Teachers launch 1.25% DVR mortgage

Ryan Fowler

July 28, 2016

Teachers Building Society has launched a new 1.25% 2-year discounted variable rate mortgage for teachers and education professionals.

The product has an £899 arrangement fee, a £99 application fee and an overall cost for comparison is 4.5% APRC. It is available to a maximum loan-to-value of 60%.

Andy Yates, business development manager of Teachers Building Society, said: “This mortgage has a competitive rate and is aimed at meeting the needs of a teachers looking to purchase or remortgage.

“With tailored lending criteria, bespoke underwriting and the ability to lend up to five times joint income (subject to affordability), we can even consider Newly Qualified Teachers (NQTs) working on a one year contract, or teachers working on a supply or fixed term contract (if applying jointly with another permanently employed applicant).”

Teachers Building Society also has mortgages available for residents of any profession looking to buy in Dorset, Hampshire and Wiltshire.

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